PENN WEST PETROLEUM LTD. T.PWT

Energy Oil & Gas E&P

"Penn West Petroleum, based in Calgary, Alberta, is an independent Canadian energy company focused on the exploration and production of oil and natural gas resources in Saskatchewan, Alberta, and British Columbia. At the end of 2015, the company reported proven reserves before royalties of 208 million barrels of oil equivalent. Daily production averaged 86,000 barrels of oil equivalent in 2015, at a ratio of 69% oil/31% gas."

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Post by makedonkaon Apr 02, 2017 9:55am

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Post# 26064494

OPEC's Barkindo

"‘Cautiously optimistic’ market is rebalancing, Barkindo says"
"Iraq complied with 98% of its promised cut in March: Luaibi"

"Crude stockpiles are starting to decline in a sign that the production cuts implemented this year are bringing the market to balance, according to OPEC’s Secretary-General Mohammad Barkindo."

“I remain cautiously optimistic that the market is already rebalancing," Barkindo told reporters Sunday in Baghdad. “We have started seeing stock levels coming down.”

https://www.bloomberg.com/news/articles/2017-04-02/oil-stockpiles-dropping-in-sign-that-opec-output-cuts-working